This report studies
the global CTMS market over the forecast period of 2016 to 2021. The market is
expected to reach USD 920.2 Million by 2021, at CAGR of 11.5% from 2016 to
2021. Factors such as increasing research and development expenditure of life
science and clinical research industries, rising number of clinical trials,
increasing number of new product launches, and increasing customer base owing
to the rising adoption of CTMS solutions are driving the growth of the global
CTMS market. On the other hand, factors such as lack of skilled professionals
to operate advanced CTMS and budget constraints of small- and medium-sized
pharmaceutical and biotechnology companies and small CROs are restricting the
growth of the global CTMS market.

This report covers
four major end users, namely, pharmaceutical and biopharmaceutical companies,
contract research organizations, medical device companies, and others. The
pharmaceutical and biopharmaceutical companies segment is expected to account
for the largest share of the CTMS market in 2016. The large share of this
segment can be attributed to the increasing adoption of CTMS software during
drug clinical trials by pharmaceutical and biopharmaceutical companies. The
contract research organizations segment is estimated to witness the highest
growth during the forecast period, primarily due to the rising trend of
clinical trial outsourcing to CROs.

On the basis of
delivery mode, the global CTMS market is segmented into web-based (on-demand),
licensed enterprise (on-premise), and cloud-based (SaaS) segments. The
cloud-based (SaaS) segment is estimated to witness the highest growth during
the forecast period, primarily due to the rising adoption of cloud-based
solutions in medical research studies owing to various benefits offered by them
such as low cost, high security, privacy, and easy accessibility from any
device.

On the basis of
component, the CTMS market is segmented into software and services. The
software segment is expected to account for the largest share of the global
CTMS market in 2016, and is also expected to grow at the highest CAGR during
the forecast period. This high growth is mainly attributed to the fierce
competition in the pharmaceutical industry to introduce cost-effective novel
drugs in the market, increased adoption of CTMS due to advantages provided by
the same among various end users, and increasing number of clinical trials.

The CTMS market is
further segmented into enterprise CTMS and site CTMS on the basis of type. The
enterprise CTMS segment is expected to command the largest share of the global
CTMS market in 2016, and is expected to grow at the highest CAGR in the
forecast period. This is attributed to the widespread adoption of enterprise
CTMS by majority of the end users.

North America
commands the largest share of the global CTMS market in 2016, followed by
Europe. However, the Asia-Pacific market is expected to grow at the highest
CAGR from 2016 to 2021. Factors such as increase in outsourcing of clinical
trials, availability of large and diverse patient population, presence of less
stringent regulatory guidelines as compared to developed nations, and
comparatively less cost of conducting clinical trials in APAC countries are
driving growth of the market.

MarketsandMarkets
is the largest market research firm worldwide in terms of annually published
premium market research reports. MarketsandMarkets is world’s No. 2 firm in
terms of annually published premium market research reports. Serving 1700
global fortune enterprises with more than 1200 premium studies in a year,
M&M is catering to multitude of clients across 8 different industrial verticals.
We specialize in consulting assignments and business research across high
growth markets, cutting edge technologies and newer applications. Our 850
fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth
markets following the "Growth Engagement Model – GEM". The GEM aims
at proactive collaboration with the clients to identify new opportunities,
identify most important customers, write "Attack, avoid and defend"
strategies, identify sources of incremental revenues for both the company and
its competitors.

M&M’s
flagship competitive intelligence and market research platform, "RT"
connects over 200,000 markets and entire value chains for deeper understanding
of the unmet insights along with market sizing and forecasts of niche markets.
The new included chapters on Methodology and Benchmarking presented with high
quality analytical infographics in our reports gives complete visibility of how
the numbers have been arrived and defend the accuracy of the numbers.

We at
MarketsandMarkets are inspired to help our clients grow by providing apt
business insight with our huge market intelligence repository.